{"id":459054,"date":"2023-11-22T17:06:24","date_gmt":"2023-11-22T17:06:24","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=459054"},"modified":"2023-11-22T17:32:30","modified_gmt":"2023-11-22T17:32:30","slug":"bitcoin-price-prediction-btc-tumbles-as-analyst-warns-of-40-post-halving-slump-but-this-bitcoin-derivative-is-set-to-skyrocket-on-etf-approvals","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-tumbles-as-analyst-warns-of-40-post-halving-slump-but-this-bitcoin-derivative-is-set-to-skyrocket-on-etf-approvals","title":{"rendered":"Bitcoin Price Prediction: BTC Tumbles As Analyst Warns Of 40% Post-Halving Slump, But This Bitcoin Derivative Is Set To Skyrocket On ETF Approvals"},"content":{"rendered":"<p>The Bitcoin price is trading 1% lower than 24 hours ago, with its price at $<a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\">36,736<\/a> as of 11 AM EST.<\/p>\n<p>Trading volume surged 42% to $28.5 billion.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-459057\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT.jpg\" alt=\"BTCUSDT\" width=\"1783\" height=\"692\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT.jpg 1783w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT-300x116.jpg 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT-1024x397.jpg 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT-768x298.jpg 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2023\/11\/BTCUSDT-1536x596.jpg 1536w\" sizes=\"(max-width: 1783px) 100vw, 1783px\"><\/p>\n<p>&nbsp;<\/p>\n<h2>What Caused Bitcoin&rsquo;s Price To Plummet?<\/h2>\n<p>Analyst Rekt Capital has warned more than 370,000 followers on X that a 40% correction is coming after the Bitcoin halving in April as the king of cryptos repeats a pattern seen in 2016.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Here&rsquo;s Why Bitcoin Could Plunge -40% Around its 2024 Halving<\/p>\n<p>If you enjoyed this 1-minute summary on <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a>&hellip;<\/p>\n<p>Checkout the full video here:<a href=\"https:\/\/t.co\/jmzm9EnGbQ\">https:\/\/t.co\/jmzm9EnGbQ<\/a><\/p>\n<p>Enjoy and Subscribe!<a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/t.co\/ShF3hcktcn\">pic.twitter.com\/ShF3hcktcn<\/a><\/p>\n<p>&mdash; Rekt Capital (@rektcapital) <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1726997530582343796?ref_src=twsrc%5Etfw\">November 21, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The analyst believes that the pattern will result in a rally as the halving approaches, only to be exhausted when blockchain rewards finally get cut in half. BTC will then lose 40% of the value that it amassed.<\/p>\n<p>As the rally raises the price, the miners, who have been saving their BTC for months up to that point, will seek to cash in while Bitcoin&rsquo;s price is higher, especially since they will be getting fewer Bitcoins for their work moving forward.<\/p>\n<p>The sudden supply increase and the surge of selling pressure will be responsible for the price&rsquo;s 40% correction.<\/p>\n<p>The analyst stressed that this is the worst-case scenario for Bitcoin and that the correction might not be as significant as 40%.<\/p>\n<h2>Bitcoin ETF Presale Is Closing In On $1.5m Raised<\/h2>\n<p>While Bitcoin will be the coin that everyone will keep a close eye on for months to come, another cryptocurrency that carries its name could easily steal the spotlight shortly.<\/p>\n<p>The token in question is known as <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">Bitcoin ETF Token (BTCETF)<\/a>, a project that aims to reward holders as Bitcoin ETFs are approved.<\/p>\n<p>Created by those who believe that the US Securities and Exchange Commission will have no other option but to finally give a regulatory nod to Bitcoin ETF applicants, the project has created a list of milestones, with its value expected to rise as each milestone is reached.<\/p>\n<p>So far, the <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">presale has raised $1.33 million<\/a>, with the token&rsquo;s current price at $0.0056. However, in less than two days, <a href=\"https:\/\/insidebitcoins.com\/visit\/btcetftoken\" rel=\"nofollow\">BTCETF<\/a> will see a price increase, so buying it now is an opportunity for those who seek to profit the most from the token.<\/p>\n<p><iframe title=\"New BTC ETF 10X Potential Crypto?! | Bitcoin Alternative With Staking Rewards!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/17pXZtSNHDM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h3>Related<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\/debit-card\">How to Buy Bitcoin with Debit Card Instantly<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-exchanges\">Best Crypto Exchange in the UK for 2023<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/how-to-buy-bitcoin-etf-token\">How To Buy Bitcoin ETF Token<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Best Wallet - 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Trading volume surged 42% <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":455205,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-459054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Prediction: BTC Tumbles As Analyst Warns Of 40% Post-Halving Slump, But This Bitcoin Derivative Is Set To Skyrocket On ETF Approvals<\/title>\n<meta name=\"description\" content=\"The Bitcoin price is trading 1% lower than 24 hours ago, with its price at $36,736 as of 11 AM EST. 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